MGM Resorts International (N:MGM)

Sector:  Consumer Cyclicals Industry:  Casinos & Gaming
 
See Regulatory Filings on SEC
Company Contact
Address: 3600 LAS VEGAS BLVD S
LAS VEGAS NV 89109
Tel: N/A
Website: www.mgmresorts.com
IR: See website
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Key People
William J. Hornbuckle
President, Chief Executive Officer, Director
Jonathan S. Halkyard
Chief Financial Officer, Treasurer
Gary M. Fritz
President - MGM Resorts International Interactive
Corey I. Sanders
Chief Operating Officer
John M. Mcmanus
Chief Legal and Administrative Officer and Secretary
Daniel Yang
Chief Customer and Innovation Officer
Business Overview
MGM Resorts International is a holding company. The Company, through subsidiaries, is a global gaming and entertainment company with domestic and international locations. The Company's segments include Las Vegas Strip Resorts, Regional Operations, and MGM China. The Las Vegas Strip Resorts segment consists of casino resorts: Aria (including Vdara), Bellagio, The Cosmopolitan of Las Vegas; MGM Grand Las Vegas, Mandalay Bay (including Delano and Four Seasons), Luxor, New York-New York (including The Park), Excalibur, and Park MGM (including NoMad Las Vegas). The Regional Operations consist of casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George's County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York, and MGM Northfield Park in Northfield Park, Ohio. It operates approximately 16 domestic casino properties.
Financial Overview
For the fiscal year ended 31 December 2023, MGM Resorts International revenues increased 23% to $16.16B. Net income applicable to common stockholders decreased 21% to $1.14B. Revenues reflect MGM China segment increase from $673.6M to $3.15B, Occupancy - % Las Vegas increase of 4% to 93%, Avg Daily Room Rate (ADR)-Circus Las Veg increase of 12% to $256. Net income was offset by Gain on REIT transactions, net decrease from $2.28B (income) to $0K.
Employees: 45,000 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $18,477M as of Dec 31, 2023
Annual revenue (TTM): $16,164M as of Dec 31, 2023
EBITDA (TTM): $2,397M as of Dec 31, 2023
Net annual income (TTM): $1,144M as of Dec 31, 2023
Free cash flow (TTM): $1,785M as of Dec 31, 2023
Net Debt Last Fiscal Year: $3,511M as of Dec 31, 2023
Shares outstanding: 317,015,680 as of Mar 8, 2024
Index Membership: S&P 500
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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